StockNews.com Begins Coverage on Essent Group (NYSE:ESNT)

Posted by on May 18th, 2023

Analysts at StockNews.com started coverage on shares of Essent Group (NYSE:ESNT – Get Rating) in a research report issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on ESNT. Roth Capital reissued a “buy” rating on shares of Essent Group in a research note on Monday, February 13th. JPMorgan Chase & Co. decreased their price target on shares of Essent Group from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Finally, Royal Bank of Canada raised their price target on shares of Essent Group from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.80.

Essent Group Stock Up 2.2 %

ESNT stock opened at $44.56 on Thursday. The company’s 50-day simple moving average is $40.79 and its 200-day simple moving average is $40.50. Essent Group has a 52-week low of $34.27 and a 52-week high of $45.01. The firm has a market cap of $4.78 billion, a P/E ratio of 6.57, a PEG ratio of 0.70 and a beta of 1.16.

Essent Group (NYSE:ESNT – Get Rating) last posted its earnings results on Friday, May 5th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.16. Essent Group had a net margin of 73.35% and a return on equity of 16.47%. The business had revenue of $256.30 million for the quarter, compared to analyst estimates of $250.57 million. During the same period in the prior year, the company posted $2.52 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts anticipate that Essent Group will post 6.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in Essent Group by 172.1% in the 3rd quarter. Barclays PLC now owns 75,845 shares of the financial services provider’s stock worth $2,646,000 after purchasing an additional 47,974 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Essent Group by 511.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 46,018 shares of the financial services provider’s stock worth $1,605,000 after purchasing an additional 38,487 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Essent Group in the 3rd quarter worth approximately $5,339,000. Credit Suisse AG lifted its stake in Essent Group by 3.2% in the 3rd quarter. Credit Suisse AG now owns 97,849 shares of the financial services provider’s stock worth $3,412,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in Essent Group in the 3rd quarter worth approximately $1,041,000. 92.07% of the stock is owned by hedge funds and other institutional investors.

About Essent Group

(Get Rating)

Essent Group Ltd. is a holding company, which engages in the provision of banking services. It offers mortgage insurance, reinsurance, and risk management products. The company was founded by Mark A. Casale on July 1, 2008 and is headquartered in Hamilton, Bermuda.

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Analyst Recommendations for Essent Group (NYSE:ESNT)

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